The Global Market Access Mistake To Avoid, with Theresa Glenna of TUV SUD

The Global Market Access Mistake To Avoid, with Theresa Glenna of TUV SUD

Theresa Glenna, Senior Project Manager of Global Market Access at TUV SUD, recently shared her global market access insights with the RIoT community. With over 1000 locations in over 50 countries and a 150+ year history, TUV SUD is the one stop shop for all things compliance. Theresa has 20 years under her belt working at TUV SUD with 15 of them in TUV SUD’s global market access arena. She offers an expert perspective into managing compliance with regulations to gain access to global markets.

As she spoke, Theresa simplified complex topics and regulations riddled with acronyms in a way that anyone could understand. However, there was one takeaway to me that stood out over all others: DON’T FALL INTO THE TRADITIONAL TRAP OF TESTING AS YOU GO.

It’s important to be mindful of the global markets in which you aim to expand within the next 3-5 years. Why? As Theresa explains, it is common to focus on one market at a time, meeting the minimum testing and certification requirements for your market and then revisiting further needs down the road. However, this method can be needlessly expensive.

When Theresa meets with a client, she always asks them which markets they hope to gain access to within the next 3-5 years and then together they make an individualized plan to ensure that a product meets the requirements for each market in the most advantageous way for the company. Although this method may require more rigorous testing and cost more upfront (often about 20% price increase vs. testing for a single market), failing to do so and re-engaging in the process again often costs a company double.

Organizations like TUV SUD offer incredible services in terms of building and maintaining appropriate levels of compliance and quality assurance. However, these organizations offer the most value when we as clients do our part to provide clear goals for future growth.